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• <br />• <br />SECTION 2. INIENNIFICATICN AND INSURANCE <br />Group W shall fully indemnify, defend and hold harmless, City and all <br />of its officers, officials, agents, and employees fran liability and judgments <br />for damages in connection with: Damage to persons or property, any claim arising <br />out of the franchise, Group W's failure to canply with provisions of the <br />franchise, or any claim Group Wffay have against City. <br />SECTION 3. INSURANCE <br />Group W shall maintain liability insurance for the entire term of the <br />franchise for amounts as specified in the franchise and pursuant to the minimum <br />requirements of this section. <br />SECTION 4. LETTER OF CREDIT <br />Group W shall maintain an irrevocable and unconditional Letter of <br />Credit. The Letter of Credit shall provide that funds be paid to the City upon <br />demand by the City pursuant to the procedures and minimum requirements of this <br />section. This section further provides mininun amounts for penalties such as <br />failure to construct the system and failure to canply with terms and conditions <br />of the franchise. Said penalties may be assessed against Group W by the City <br />and collected directly from the Letter of Credit. The Letter of Credit must be <br />maintained pursuant to the procedures and requirements of this section. <br />SECTION 5. BCNES <br />Group W must maintain with the City a bond conditioned upon the faith- <br />ful performance by Group W of the franchise, and further conditioned upon the <br />terms and requirements of this section. <br />ARTICLE IX. DEFAULT <br />SECTION 1. NUFICE AND DEFAULT <br />City shall notify Group W in writing of violations of the franchise. <br />Group W shall have thirty days to cure such default, or be subject to the proce- <br />dures of this section leading to termination of the franchise. <br />SECTION 2. CROSS DEFAULT <br />If Group W is in default of any of the franchises of the cities of <br />Blaine, Centerville, Circle Pines, Coon Rapids, HamLake, Lexington, Lino Lakes, <br />or Spring Lake Park, Minnesota, any one of those cities may declare Group W in <br />default of all eight franchises. <br />ARTICLE X. FORECLOSURE, RECEIVERSHIP AND ABANDONMENT <br />SECTION 1. FORECLOSURE <br />Upon the foreclosure or judicial sale of the System, the provisions of <br />the franchise governing consent to transfer or change in ownership shall apply. <br />-6- <br />